WHY GET PRE-QUALIFIED?
It is to your benefit to Get Pre-Qualified for a loan with a Hawaii Lender PRIOR to actually searching for property. Doing so will let you know exactly how much of a loan you can qualify for. This will save you time, headaches and dissappointments down the road. Once you know the loan amount you qualify for, you will know your maximum price range. Then, when you are seriously ready to search for your Kauai Dream Home, Condo or Land, you will be able to shop with confidence. You will know your price range, shop your price range, and be all set to make a serious offer once you find your Kauai Dream Home, Condo or Land...
When we find the Kauai Dream Home, Condo or Land you really want, it is important to have your Pre-Qualification Letter ready to attach to your Offer to Purchase. It shows the Seller you are a serious Buyer and you have no intentions of wasting their time. Having your Prequal Letter in hand may also give you an edge should there be multiple offers on a property.
When purchasing property in Hawaii, I highly recommend using a Hawaii Lender. They are familiar with Hawaii law and the Properties here which makes for a smoother transaction. Please contact me for a list of Lenders who can help you quickly. Debbie Hill 808-639-3242.
A lender can help you understand the different financing options available and can recommend the reputable lenders in best suited to your financial position and the property you wish to buy.
There are two basic categories of mortgages: the fixed-rate and the adjustable-rate mortgage. Within these categories, there are many variations.
This type of mortgage begins with a higher initial mortgage payment, with the trade-off that all future payments remain consistent and predictable. The interest rate on the loan does not change, making budgeting and planning for this type of mortgage simpler and less risky.
This type of mortgage can be attractive because the initial mortgage payments generally start out much lower than those in a FRM. This early benefit comes with the risk of increased and fluctuating later mortgage payments, as the interest rate changes over the course of the loan.